Egypt Eyes Billions in New Investment to Revive Oil and Gas Production

The Egyptian government is doubling down on its plans to accelerate the development of its oil and gas resources. 6 billion cubic feet per day by 2027, supported by increased drilling, new exploration incentives, and greater investment from international oil and gas majors. In October, the Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, met with Cypriot Energy Minister Michael Damianos, East Mediterranean Gas Forum Secretary-General Osama Mobarez and international oil and gas executives from firms operating in Egypt during the "The Future of Energy in Egypt" roundtable to discuss how the country might accelerate investment in the sector and boost production.